Trump’s Election Victory Sends Nvidia Stock To Record $3.6 Tn Value

Nvidia made history on Thursday, becoming the first company to exceed a market value of USD 3.6 trillion, driven by a 2.2 per cent surge in its stock price. This achievement came amid broader market optimism following Donald Trump's election victory, which fueled hopes for tax cuts and reduced regulations under his leadership. 

Nvidia's stock closed the day at USD 3.65 trillion, surpassing Apple’s previous record of USD 3.57 trillion, which was set just weeks ago in October.

The Silicon Valley chipmaker, known for its dominance in the AI sector, has benefitted significantly from investor enthusiasm about the future of artificial intelligence and its critical role in powering the technology. This surge in Nvidia's stock value has also allowed it to surpass the combined market value of major corporations such as Eli Lilly, Walmart, JPMorgan, Visa, UnitedHealth Group, and Netflix.

The rally in Nvidia's stock has helped cement its position at the top of the technology sector, having briefly overtaken Apple in market capitalisation earlier this year. Apple's stock rose about 2 per cent on Thursday, bringing its value to USD 3.44 trillion, but the company remains in second place behind Nvidia. Microsoft's stock, up 1.25 per cent, has also contributed to a competitive tech sector, with its market value nearing USD 3.16 trillion.

Nvidia's meteoric rise in 2024 has been nothing short of remarkable, with its stock price tripling this year alone. Analysts expect the company to report an 80 per cent increase in its quarterly revenue when it announces results on 20 November, as per a Reuters report.